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Garibaldi Resources Corp
Symbol C : GGI
Shares Issued 108,694,476
Close 2019-04-11 C$ 0.96
Recent Sedar Documents

Garibaldi drills 4.4 m of 6.19% Ni, 2.06% Cu at Nickel

2019-04-11 16:12 ET - News Release

Mr. Steve Regoci reports

GARIBALDI DRILLS 6.19% NICKEL AND 2.06% COPPER FROM SURFACE OVER 4.4 METERS IN CENTRAL ZONE AT NICKEL MOUNTAIN

Garibaldi Resources Corp. has provided the following exploration update including final 2018 drill hole results, all from outside the Upper and Lower Discovery zones at Nickel Mountain.

  • Three additional drill holes in the Northwest zone all intersected disseminated sulphide mineralization typical of this area, including one of the widest intervals to date -- 51.2 metres grading 0.72 per cent nickel and 0.67 per cent copper in EL-18-46. This zone has been extended farther to the south into highly prospective terrain with orbicular gabbro and massive sulphide veins toward the contact of the intrusion.
  • The first shallow drill holes into a portion of the Crevasse showing at the northern edge of the Central zone confirmed the presence of high-grade nickel mineralization to a depth of at least 28 metres below surface. This area remains open to the east, west and at depth with drill results highlighted by 6.19 per cent nickel and 2.06 per cent copper over 4.44 metres starting from surface in EL-18-45.
  • Limited drilling under the 1.6-kilometre-long icefield, regional surface mapping and lithogeochemistry have greatly expanded the strike length of the gabbroic rocks of the Nickel mountain complex (NMC) to 12 kilometres in a northeast direction, well beyond Anomaly A.

Steve Regoci, Garibaldi president and chief executive officer, commented: "Camp is scheduled to reopen in mid-May. Our geological team enters the 2019 program with more excitement and confidence than ever after reviewing all data from six months of Nickel Mountain drilling covering 46 holes (2017 and 2018).

"The stage is set for a fast-paced 2019 to fully unlock the value of the Golden Triangle's first nickel-copper-rich magmatic massive sulphide system," Mr. Regoci concluded.

Crevasse showing samples average 5.3 per cent nickel

Receding ice has exposed new outcrops of massive sulphide mineralization at Nickel Mountain, creating additional opportunities to expand the footprint of massive sulphides along the contact of the E&L intrusion.

Sixteen rock samples collected along a strike length of 34 metres from insitu outcrop at the Crevasse showing of massive and semi-massive sulphides averaged 5.3 per cent nickel and 2.3 per cent copper. They also included an average of 0.21 per cent cobalt, 0.25 gram per tonne platinum, 0.37 g/t palladium, 0.19 g/t gold and 3.8 g/t silver (see attached table in this news release).

The Crevasse showing, discovered late in last year's program after an unprecedented summer of ice retreat, will be followed up aggressively along strike and at depth. The showing extends from west to east for 34 metres (open in both directions and at depth) and then dips under a talus field that will be drilled this summer. Only 15 metres of strike was drill tested last fall before winter conditions shut down operations.

Garibaldi expands Nickel Mountain Gabbroic complex

Garibaldi's extensive 2018 program allowed geologists to expand the footprint of outcropping gabbroic rocks for approximately 12 kilometres along strike of the E&L deposit, adding significantly to Nickel Mountain's overall exploration potential.

The E&L intrusion resides within the NMC, and it consists of magnesium-rich taxitic and orbicular-textured olivine gabbros. The lateral extent of the E&L intrusion is open to the east-southeast and at depth, and potential exists for massive and disseminated sulphide mineralization in strike extensions of the intrusion well beyond the footprint of the intrusion identified at this time. Exploration for additional intrusions like E&L was initiated in 2018 with follow-up of magnetic and electromagnetic anomalies, surface mapping of gabbroic rocks, and lithogeochemical sampling. The greatly expanded strike length of the NMC will be an important component of Garibaldi's exploration and drilling strategy in 2019.

Interval code       Hole No.  Width (m) Ni (%)  Cu (%)  Co (%) Pt (g/t)  Pd (g/t)  Au (g/t)  Ag (g/t) Ni + Cu (> 1%)
Northwest zone
Y                  EL-18-46     2.04 m   0.71    0.36   0.032    0.015     0.034      0.01       1.5           1.07
Z                  EL-18-46     51.2 m   0.72    0.67   0.022    0.172     0.255     0.187         2           1.39
AA                 EL-18-37      4.5 m   0.53     0.5   0.017     0.15      0.17      0.16       2.8           1.03
AB                 EL-18-37      6.0 m   0.57    0.46    0.02    0.165     0.277     0.154       3.3           1.03
AC                 EL-18-36     20.4 m   0.59    0.48   0.021    0.144     0.216     0.129         1           1.07
                 *including     0.42 m   6.17    1.81   0.211     0.32     0.613     0.139       3.1           7.98
Central zone    (Crevasse s    howing)
AD               **EL-18-45     4.44 m   6.19    2.06   0.201    0.247     0.458      0.09       3.4           8.25
AE                 EL-18-43     6.25 m   1.38    0.85   0.044    0.113     0.172      0.08       3.7           2.23
                **including     0.79 m   5.21     2.1   0.189    0.225     0.362     0.086       4.4           4.57
AF                 EL-18-42      5.5 m   1.74    0.89   0.051    0.186     0.235      0.13       5.5           2.63
                **including     1.28 m   5.87    2.33   0.165    0.416     0.566     0.176      11.5            8.2
AG                 EL-18-41    11.62 m   0.89    0.48   0.031    0.292     0.507     0.244         5           1.37
                 *including     1.86 m   3.42    0.77   0.128     0.24     0.504     0.031         9           4.19
AH                 EL-18-38    18.38 m   0.89    0.65   0.025    0.202     0.264     0.144       2.7           1.54
                **including     0.95 m   6.89    3.58   0.202     0.87     0.924     0.305         5          10.47

Combined 1 per cent nickel plus copper is a minimum threshold for comparative analysis. Intervals are core lengths 
(true widths unknown at this time).
** Denotes interval of massive sulphides (over 75 per cent sulphides).
* Denotes semi-massive sulphides (50 to 75 per cent sulphides).

Exploratory drilling outside of main zones

Three holes were drilled last fall (EL-18-44, EL-18-40 and EL-18-39) to begin to build an understanding of the geology and exploration potential beneath the icefield north and northeast of the expanding mineralized footprint of the known E&L zones.

Drill holes EL-18-44 and EL-40 were collared approximately 1,000 metres east-northeast of the Discovery zones. Both holes intersected weakly mineralized NMC gabbro near surface (zero to 35.4 metres in EL-18-44, and zero to 101 metres in EL-18-40).

Drill hole EL-18-39 was highly encouraging as it targeted under the icefield from the eastern side of the northeast fault zone. It intersected gabbro of the NMC and Hazelton group sediments. The gabbroic rocks included a section of variable textured gabbro/melagabbro with disseminated sulphides from 310 metres to 519.4 metres. Another deeper interval of weakly mineralized gabbro interleaved with mudstone was intersected from 783.6 to 1,007.8 metres. This has provided important information about the extent and geometry of the NMC.

Drill hole EL-18-35 was collared approximately 200 metres southwest of the Lower Discovery zone and intersected a 278-metre package of NMC gabbro with variable textured intervals and trace disseminated to locally blebby sulphides, warranting follow-up.

Drill hole EL-18-34 was collared approximately 700 metres southeast of the Lower Discovery zone, targeting a strong magnetic response. This hole intersected a sequence of weakly magnetic volcanic rocks with local interfingered sedimentary rocks and minor disseminated pyrite and rare chalcopyrite. Follow-up is required in this area as well.

      CENTRAL ZONE CREVASSE SHOWING ASSAY RESULTS (ALONG 34 METRES OF STRIKE)

Sample      Ni (%)   Cu (%)   Co (%) Pt (g/t) Pd (g/t) Au (g/t) Ag (g/t) Ni + Cu (%)

25401        4.07     2.39    0.173     0.43    0.513    0.339      6.1        6.46  
25402        2.41     2.86    0.086     0.18     0.33    0.284      3.5        5.27
25403        5.31     2.73     0.22     0.41    0.425    0.325      5.7        8.04
25404        5.14     1.98    0.199      0.3    0.451    0.104      2.8        7.12
25405        5.47     2.71    0.211     0.34    0.269    0.111      3.6        8.18
25406        5.05     2.74     0.21     0.32     0.27    0.144      2.6        7.79
25407        4.56     1.55    0.191     0.29     0.24    0.043        2        6.11
25408        5.15     1.97    0.208     0.23    0.422    0.073      2.5        7.12
25409        4.71        3    0.233     0.11    0.254    0.082      3.4        7.71
25410        5.36     1.82    0.206     0.14    0.186    0.031      2.2        7.18
25411        7.29     2.21     0.24      0.2    0.446    0.086      2.5         9.5
25412        6.23     1.53    0.221     0.23    0.496    0.081      1.6        7.76
25413        5.42     2.01    0.233     0.15    0.202    0.062      3.7        7.43
25414        6.32     2.61    0.189     0.29    0.729     1.09     11.6        8.93
25415        6.13     2.49    0.278     0.19    0.387    0.113      4.9        8.62
25416        6.24     1.62    0.233      0.2    0.368    0.059      2.2        7.86
Averages      5.3     2.26    0.208    0.251    0.374    0.189      3.8        7.57

Maps

Updated schematic cross-section and plan view maps are available on the Garibaldi website.

For an updated Google Earth image of Nickel Mountain and the surrounding area, visit the projects section of the website.

Quality assurance/quality control (QA/QC)

Garibaldi Resources has applied a rigorous quality assurance/quality control program at the E&L Nickel Mountain project using best industry practice. All core was logged by a professional geoscientist and selected intervals were sampled. NQ2 drill core was sawn in half and each sample half was placed in a marked sample bag with a corresponding sample tag then sealed. The remaining half core is retained in core boxes that are stored at a secure facility in Smithers, B.C. Chain of custody of samples was recorded and maintained for all samples from the drill to the laboratory. All diamond drilling sample batches included 5 per cent QA/QC samples consisting of certified blanks, standards and field duplicates. Two certified ore assay laboratory standards and one blank standard were used in the process and were supplied by CDN Resource Laboratories Ltd., an independent laboratory located in Langley, B.C. Samples were submitted to SGS Canada Inc. in Vancouver, B.C., an ISO 9001: 2008-certified lab, for base metal, sulphur and precious metal analysis using inductivity coupled plasma (ICP), fire assay (FA) and Leco methods.

Samples were prepared by crushing the entire sample to 75 per cent passing two millimetres, riffle splitting 250 grams and pulverizing the split to better than 85 per cent passing 75 microns. Gold, platinum and palladium were analyzed using a 30-gram fire assay and ICP-AES. Total sulphur was analyzed using a Leco method. Nickel, copper, cobalt, silver and other elements were analyzed by sodium peroxide fusion and ICP-MS.

The performance on the blind standards, blanks and duplicates achieved high levels of accuracy and reproducibility and has been verified by Jeremy Hanson, a qualified person as defined by National Instrument 43-101.

Qualified person data verification

Jeremy Hanson, PGeo, vice-president, exploration, Canada, for the company, and a qualified person as defined by NI 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release. Mr. Hanson has verified the data, including drilling, sampling, test and recovery data, by supervising all of such procedures. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date.

About Garibaldi Resources Corp.

Garibaldi Resources is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.

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